BEIJING (Hollywood Reporter) - China's costliest film, director John Woo's third-century naval war epic "Red Cliff," has set a new box office record for a domestic movie, putting it within reach of the country's all-time record-holder, "Titanic."

Earning 302 million yuan ($44.04 million) in the month since its July 10 opening, "Red Cliff" smashed the previous domestic record held by "Curse of the Golden Flower," a report published late Monday on Sohu.com, said.

"Red Cliff," an $80 million film starring Tony Leung and Takeshi Kaneshiro, is expected to reach the 360 million yuan haul of "Titanic," an unidentified official of the China Film Group, Woo's producer and distributor, told Sohu.com.

"Red Cliff" will open the Tokyo International Film Festival on October 18. A sequel is due in December.